Hmm, it seems that the huge buyout firm is starting to think the economy is on the mend.
``Markets have stabilized and we have seen signs of recovery,'' Schwarzman said today on a conference call with investors. ``We don't think we're completely through it, but we're seeing signs of improvement.''
Hmm, I think the Bear Stearns bailout may have been the height of the crisis. Things were on the edge of a cliff at that time and could easily fall either way. It was either backwards into the grass or forward into the ravine. The FED was there to stabilize the markets and may get some broad new powers out of the deal. We see now that inflation at a low point and even an modest expansion of consumer spending. If oil drops back down then the recovery might be truly on the way. I guess the Dems will have to go back to the Iraq War as their tent pole issue since the economy may be right on track by October.
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